Lehman Brothers Financial SA (LEHNQ)

[camaro4me]

I'm no lawyer and I find these dockets to be confusing, but here is what I think is happening with Lehman. Correct me if I'm wrong. JPM and LBHI seem to be in a boxing match over who is supposed to pay the CTs. Knowing that the CTs are in default and that they have to come out of default for Lehman to be able to move forward, they seem to have made an agreement with each other that Lehman will pay, but if the judge rules that JPM has to pay, then JPM will pay Lehman back. For Lehman to be able to come up with money, I think they are borrowing it from their subsidiaries, at a low interest rate, considered an investment by the subsidiaries as they will get a slightly better rate than they are already getting. I think that just got approved by the judge on 9/9/14, Tuesday. Lehman still has to get the money, push it to Bank of New York Mellon (our trustee) who then pushes it to our brokerages via DTCC. It looks good to me. Or maybe I got it all wrong.